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Debt?

PostPosted: Tue Aug 13, 2019 10:15 am
by danielrees17
Does anyone know how much we are still in debt? Last season and this one should've wiped a fair bit off?

Re: Debt?

PostPosted: Tue Aug 13, 2019 11:42 am
by Nemo
I’d guess we made a profit of 25-30 million last year. Can’t see much of a profit coming this year. We still have a large wage bill and the parachute payment is only half of the TV money we got last year

Re: Debt?

PostPosted: Tue Aug 13, 2019 11:50 am
by danielrees17
Nemo wrote:I’d guess we made a profit of 25-30 million last year. Can’t see much of a profit coming this year. We still have a large wage bill and the parachute payment is only half of the TV money we got last year

25 mil is still a good number off the debt though, another step closer to being debt free I suppose

Re: Debt?

PostPosted: Tue Aug 13, 2019 12:16 pm
by Steve Zodiak
Last time in the PL we made a loss, can't remember how much but I think it was relatively small, somewhere between £10m & £15m I seem to recall.

Re: Debt?

PostPosted: Tue Aug 13, 2019 12:36 pm
by Tony Blue Williams
Steve Zodiak wrote:Last time in the PL we made a loss, can't remember how much but I think it was relatively small, somewhere between £10m & £15m I seem to recall.


The loss for the 2013/14 season was £13,664,000. Revenue for that season was £83,138,000

Re: Debt?

PostPosted: Tue Aug 13, 2019 12:44 pm
by Steve Zodiak
Tony Blue Williams wrote:
Steve Zodiak wrote:Last time in the PL we made a loss, can't remember how much but I think it was relatively small, somewhere between £10m & £15m I seem to recall.


The loss for the 2013/14 season was £13,664,000. Revenue for that season was £83,138,000


Cheers Tony. Thought it was around about that figure, I struggle to remember last week, never mind a few years back. Be a while before we know the figures for last season. :occasion5:

Re: Debt?

PostPosted: Tue Aug 13, 2019 12:55 pm
by Tony Blue Williams
danielrees17 wrote:Does anyone know how much we are still in debt? Last season and this one should've wiped a fair bit off?


The most recent accounts May 2018 states that we owe VT £50,107,000 @ 7% interest, however, it appears that VT waves the interest. We also owed Dalman's company £11m @ 9% interest. That was repaid in full during the year but our Chairman made a tidy £600,000 in interest :shock:

The accounts go onto say that VT can convert the £50m into equity at a fixed price of 15.69 pence. The timing seems to be entirely up to him. :D

Re: Debt?

PostPosted: Tue Aug 13, 2019 12:57 pm
by Tony Blue Williams
Steve Zodiak wrote:
Tony Blue Williams wrote:
Steve Zodiak wrote:Last time in the PL we made a loss, can't remember how much but I think it was relatively small, somewhere between £10m & £15m I seem to recall.


The loss for the 2013/14 season was £13,664,000. Revenue for that season was £83,138,000


Cheers Tony. Thought it was around about that figure, I struggle to remember last week, never mind a few years back. Be a while before we know the figures for last season. :occasion5:


You are not alone Steve I had to look the figures up ;) I think the accounts come out in December but don't quote me on that!

Re: Debt?

PostPosted: Wed Aug 14, 2019 12:17 pm
by JJ1927
Tony Blue Williams wrote:
danielrees17 wrote:Does anyone know how much we are still in debt? Last season and this one should've wiped a fair bit off?


The most recent accounts May 2018 states that we owe VT £50,107,000 @ 7% interest, however, it appears that VT waves the interest. We also owed Dalman's company £11m @ 9% interest. That was repaid in full during the year but our Chairman made a tidy £600,000 in interest :shock:

The accounts go onto say that VT can convert the £50m into equity at a fixed price of 15.69 pence. The timing seems to be entirely up to him. :D

9% is a bit steep. I appreciate that the club is a risky entity but I would be surprised if Tan hadn't guaranteed the repayment.